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Soybean futures stayed firm, closed above 4300

21 Oct 2020 8:25 pm
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Mumbai (Commodities Control) – NCDEX Soybean futures traded higher today breaching 4350 during today’s trade as anticipated in our earlier reports.

Prices made a high of 4354 signalling a strong momentum. Troubled weather in key soy regions in Maharashtra and MP is primary factor driving the prices up.

Soybean meal and oil prices have remained robust to give support to crushing demand for soybean. Stockist and speculators have entered into market actively stocking up at current prices springing overall demand.

NCDEX Soybean futures are expected to move towards our target of 4400 in coming sessions.

(Commodities Control Bureau)

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